JAKARTA - Gaming and venture capital firm Animoca Brands has completed the landmark acquisition of Eden Games, from publisher Gear.Club, the Test Drive series and other popular racing games.
Eden Games is a France-based company founded in 1998. Engine Gaming and Media sold its 96% stake in the company to Animoca for 15.3 million US dollars (Rp 219 billion) on April 7.
With the acquisition, Animoca plans to enhance the REVV Motorsport (REVV) ecosystem by taking a "Metaverse first approach" to new and existing game titles, as tweeted by Animoca chairman Yat Siu on April 12.
It also hopes to introduce a new blockchain-based racing game. Eden Games has partnerships in the automotive industry with the likes of BMW, Bugatti, Porsche and others that will help Animoca build a more robust game suite for racing game lovers.
The REVV Motorsport ecosystem includes the eponymous racing game on scaling solutions Ethereum Polygon, MotoGP: Ignition, Formula E: High Voltage and Torque Drift. All games are blockchain based and integrate nonfungible tokens (NFT).
By incorporating its NFT products into sports, Animoca will be able to leverage Deloitte's estimated $2 billion (Rp 28.7 trillion) in sports NFT transactions by 2022.
Animoca Brands co-founder and chairman Yat Siu said in an April 11 statement that the acquisition will "add value to the REVV community and the racing metaverse" through its many assets in the racing world.
As reported by Cointelegraph, Animoca has been busy building its own racing game ecosystem and is looking to fill the void created by its F1 game Delta Time which closed on March 15 after losing its license to the Formula 1 racing brand. being developed as a result of the new acquisition.
F1 racing is a popular sport in the crypto industry with at least eight crypto companies, including exchange Binance, Crypto.com, and Ethereum scaling solution Fantom, currently sponsoring the F1 team. From a business perspective, its popularity makes a lot of sense considering that around a billion global fans are expected to watch the race throughout the 2022 season.
Animoca Brands is one of the most active investors in the NFT and Metaverse space. Other holdings include The Sandbox (SAND) and Axie Infinity (AXS).
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